Ala. Code § 27-7-36 (1975) Accounting For and Payment of Trust Funds By Licensees

LibraryAlabama Statutes
Edition2023
CurrencyCurrent with legislation from the 2023 Regular and Special Sessions.
Year2023
CitationAla. Code § 27-7-36 (1975)

(a) All premiums, return premiums, or other funds belonging to others received by a producer in transactions under the producer's license...

(b) Any producer who, not being lawfully entitled thereto, diverts or appropriates such funds, or any portion thereof, to his or her own use shall, upon conviction, be guilty of theft of property punishable as provided in Article 1, commencing with Section 13A-8-1, of Chapter 8 of Title 13A.

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